|Bid||430.30 x 0|
|Ask||0.00 x 0|
|Day's range||421.00 - 434.40|
|52-week range||273.33 - 492.80|
|PE ratio (TTM)||7.96|
|Forward dividend & yield||N/A (N/A)|
|1y target est||N/A|
MUMBAI/NEW DELHI (Reuters) - India's state oil refiners are planning an aggressive push into natural gas in coming years to meet Prime Minister Narendra Modi's goal of making the fuel a bigger part of the country's energy mix. State-owned oil companies - Indian Oil, Bharat Petroleum and Hindustan Petroleum - are planning to raise gas contributions to between 5 and 15 percent of their incomes over the next few years, up from nearly none now, company executives said. This in line with a government target to raise the natural gas portion of India's primary energy mix to 15 percent by 2030, up from 6.5 percent now, to help meet climate targets and rein in rampant pollution.
State-owned oil refiner Hindustan Petroleum Corp Ltd's second-quarter net profit more than doubled, but fell short of analysts' estimates. Net profit for the three months ending Sept. 30 soared to 17.35 ...
HPCL-Mittal Energy Ltd (HMEL), part-owned by steel tycoon L N Mittal, may halt naphtha exports from the 2021-22 fiscal year when it starts its $3.1 billion cracker, the chairman of Hindustan Petroleum Corp said. Like other Indian refiners, HMEL is also building a petrochemical complex linked to its refinery to cater for an expected surge in demand for goods ranging from plastics to paints and adhesives. The cracker will have an annual capacity of 1.2 million tonnes with a provision to raise it to 1.5 million tonnes, M. K. Surana told Reuters.
Hyderabad, Oct 16 (IANS) Customers of Airtel Payments Bank can now make digital payments for fuel purchase at 1,500 HPCL fuel stations across Andhra Pradesh and Telangana. The announcement was made during the inauguration of an HPCL fuel station as banking point in the Manikonda HPCL fuel station in Hyderabad on Monday.
A push to use more natural gas by the world’s fastest-growing oil guzzler is getting a boost from an unlikely source: the nation’s gasoline and diesel makers.
Indian state refiner Hindustan Petroleum Corp has made its first purchase of U.S. oil, buying high sulphur crude Mars in a tender, company chairman M. K. Surana said on Monday. Earlier Indian Oil Corp ...
Mumbai, Sep 13 (IANS) Stocks of three state-owned oil marketing companies (OMCs) tanked by as much as six per cent on Wednesday following reports that the government was mulling placing curbs on their ...
India's state oil refiners - long focused on churning out transport and cooking fuels - are planning a $35 billion push into petrochemicals to meet an expected surge in demand for goods ranging from plastics to paints and adhesives. The drive comes as the government seeks to promote durable, cheaper materials in industries such as farming and food packaging, while refiners eye long-term threats to their business from renewable energy and a shift to electric vehicles. India's per capita consumption of synthetic polymers, for instance, used to make various grades of plastics, is just 10 kg (22 lbs) a year, compared with a global average of about 32 kg.
NEW DELHI/BENGALURU (Reuters) - Hindustan Petroleum Corp plans to buy low-sulphur oil from the United States in the next few months for its 166,000 barrel per day (bpd) Vizag refinery in southern India, company executives said on Friday. U.S. crude is an additional option for us," he said. India is the latest Asian country to buy U.S. crude, following South Korea, Japan, China, Thailand, Australia and Taiwan, after OPEC cuts drove up prices of Middle East heavy-sour crude, or grades with a high sulphur content.
New Delhi, July 27 (IANS) State-run explorer Oil and Natural Gas Corp (ONGC) on Thursday posted an 8.2 per cent fall in net profit for the first quarter ended June at Rs 3,885 crore, as compared to the Rs 4,233 crore PAT reported in the same quarter of 2016-2017. ONGC said in a statement here that the fall in profit comes despite the increase in gross revenue over the corresponding quarter in the previous fiscal and lower expenses during the quarter in consideration. The company's gross revenue during the first quarter of the current fiscal of Rs 19,073 crore was a 7.2 per cent rise over the Rs 17,784 crore in the same period of fiscal 2016-2017.
India has decided to set up a panel headed by Finance Minister Arun Jaitley to expedite the sale of government's stake in refiner Hindustan Petroleum Corp (HPCL.NS) to explorer Oil and Natural Gas Corp (ONGC.NS), Oil Minister Dharmendra Pradhan said. The Indian cabinet last week decided to sell the government's 51.1 percent stake in refiner and fuel retailer HPCL to oil producer ONGC.
New Delhi, July 20 (IANS) The acquisition of the central government's majority stake in Hindustan Petroleum by state-run explorer ONGC is the more effective and smoother way of merging these two entities, which are in two different segments of the business, according to a concerned official here. The Union Cabinet on Wednesday gave its in-principle approval to the merger of state-run explorer Oil and Natural Gas Corp (ONGC) and oil marketer Hindustan Petroleum Corp Ltd (HPCL), official sources said here. The Cabinet approved the sale of the government's stake in HPCL to ONGC.
State refiner Hindustan Petroleum Corp Limited (HPCL) sees itself better placed to buy overseas downstream assets once it becomes part of the country's top explorer Oil and Natural Gas Corp (ONGC), its chairman M. K. Surana said. The Indian cabinet on Wednesday cleared state-run ONGC to acquire the government's 51.1 percent in HPCL as New Delhi wants larger local oil firms to take on global rivals. "When you go for overseas deals, you will get more leverage because of the size of the group," Surana told Reuters, adding the deals should also make 'economic and commercial sense'.
India has approved explorer Oil and Natural Gas Corp's (ONGC) plan to buy its 51.1 percent stake in state-refiner Hindustan Petroleum Corp Ltd (HPCL), a government source said on Wednesday, as New Delhi seeks to create a large integrated oil firm. India has about a dozen state-owned oil and gas companies, with significant overlaps in operations. India, the world's third-biggest oil consumer, imports about 80 percent of its crude needs and Prime Minister Narendra Modi has set a target to cut dependence on oil imports by 10 percent by 2020.
New Delhi, July 19 (IANS) The Union Cabinet on Wednesday gave its in-principle approval to the merger of oil marketer Hindustan Petroleum Corp Ltd (HPCL) with state-run explorer Oil and Natural Gas Corp. (ONGC), official sources here said. The cabinet approved the sale of the government's stake in HPCL to ONGC. Under the arrangement, the exploration giant will not have to make an open offer after buying the 51.11 per cent government stake in HPCL, the sources added.
Hindustan Petroleum Corp Ltd has raised up to $500 million with its first ever overseas bond sale, the company said in a statement late on Sunday. The company sold a 10-year, fixed-rate, unsecured dollar ...
India's diesel imports have intensified with a state-owned refiner entering the spot market on Tuesday to seek its seventh cargo of the fuel for July, trade sources said. The Hindustan Petroleum Corp (HPCL) is seeking 60,000 tonnes of 40ppm sulphur gasoil for delivery into Vizag over July 20-25 in a tender that closes on July 5. The HPCL-Mittal Energy Ltd (HMEL) was expected to start up its 230,000 barrels per day Bathinda refinery in Punjab after it shut for planned maintenance in late April, but the refinery is still not back in operation, an industry source said, though this could not immediately be confirmed.
India's top explorer Oil and Natural Gas Corp is keen to acquire the government's stake in oil refiner Hindustan Petroleum Corp , the country's oil minister said on Wednesday. "ONGC has shown interest," ...
HPCL-Mittal Energy Ltd (HMEL), part-owned by steel tycoon L N Mittal, has delayed the start-up of its Bathinda refinery in Punjab state by a fortnight to the end of this month, an industry source said. The refiner shut the refinery on April 30 for about 45 days to raise capacity by about 28 percent to 230,000 bpd. State-refiner Hindustan Petroleum Corp (HPCL.NS) and Mittal Energy Investments Pvt Ltd each own a 49 percent stake in the project.
REUTERS - State-run oil marketing company Hindustan Petroleum Corp Ltd reported a 31 percent jump in March-quarter net profit on Friday, beating street estimates, as income from operations grew. Net profit ...
Hindustan Petroleum Corp Ltd is seeking gasoil amid planned maintenance at its 180,000 barrels-per-day Bathinda refinery, three industry sources said on Thursday. The company is seeking 60,000 tonnes of gasoil with a sulphur content of 40 parts per million for delivery into Visakhapatnam over May 25 to 30, a tender document seen by Reuters showed. HPCL seldom imports gasoil in the spot market as the company is well-balanced with its demand and supply, the sources said.
India's state-run Oil and Natural Gas Corp will take control of Hindustan Petroleum Corp as part of the government's plan to create an integrated public sector oil entity, the Economic Times daily reported on Monday citing top government officials. India plans to create a giant oil company by combining state-owned firms, finance minister Arun Jaitley said in the budget speech earlier this month as the world's third largest oil consumer looks to better compete with global majors in acquiring foreign assets. The government of India will transfer its majority shareholding (of 51.11 percent in HPCL) to ONGC, which will then become the holding company of HPCL," the paper wrote citing one of the officials.
State-run Hindustan Petroleum Corp will restart a 36,000 barrels per day crude unit at its Vizag refinery in 2-3 days, its chairman M. K. Surana said on Monday. HPCL had shut the crude unit at 166,000 ...
Mumbai, Jan 13 (IANS) India's petroleum consumption growth in the first nine months of the current fiscal has slowed to 5.4 per cent as compared to 9.6 per cent in fiscal 2015-16, a report said on Friday. "Domestic petroleum consumption grew moderately by 5.4 per cent in nine months of FY17 as compared to a robust 9.6 per cent in FY2016, excluding petcoke volumes, led by moderation in growth of diesel, naphtha and bitumen," Kotak Institutional Securities said in a report. "Overall petroleum consumption growth was robust at 8.8 per cent in nine months of FY17, albeit lower than 11.6 per cent in FY2016, driven by 40 per cent growth in petcoke and 11 per cent growth in gasoline, LPG and ATF (aviation turbine fuel)," it said.
New Delhi, Dec 23 (IANS) The foundation stone for India's first second generation ethanol bio-refinery to be set up by Hindustan Petroleum Corp (HPCL) at Bathinda in Punjab at a cost of Rs 600 crore will be laid on December 25, an official said on Friday. The foundation stone laying ceremony will be held at village Tarkhanwala, in Bathinda district of Punjab, a Petroleum Ministry release here said.